a. Solve for the aggregate demand of the towns 50 residents as a function of the number of acres. Be sure to write down equations for each section of the aggregate demand curve, as well as the interval of quantities each section spans. b. Graph the aggregate demand curve calculated in part a. Make sure to label both intercepts, slopes, and the intersection of the two sections.
Suppose a town is planning to construct a new public park. Based on some
Type 1: QD = 20 – P
Type 2: QD = 40 – 2P
a. Solve for the aggregate demand of the towns 50 residents as a function of the number of acres. Be sure to write down equations for each section of the aggregate demand curve, as well as the interval of quantities each section spans.
b. Graph the aggregate demand curve calculated in part a. Make sure to label both intercepts, slopes, and the intersection of the two sections.
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